Tag: COPEC
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Fuel prices to remain fairly stable at the pumps – COPEC
Prices of Petrol and Diesel are likely to remain unchanged in the first pricing window of October. Per projections from the Chamber of Petroleum Consumers (COPEC), there could be a one percent increase at the pumps, but Oil Marketing Companies (OMCs) have agreed not to pass on the cost to consumers due to competition. “There…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…
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Cylinder Re-circulation: COPEC warns of chaos if NPA rushes implementation
The Chamber of Petroleum Consumers (COPEC) has advised the National Petroleum Authority (NPA) to enhance public education on the implementation of the Cylinder Re-circulation Model before its complete rollout in September 2023. Perry Okudzeto, Deputy Director of the NPA, explained during a press briefing on Thursday [August 3, 2023] that the model had undergone successful…
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Budget review: COPEC warns against introduction of new taxes on fuel
The Chamber of Petroleum Consumers (COPEC) has issued a strong warning to the government to refrain from plans to introduce new taxes on petroleum products in the mid-year budget review. The Finance Minister, Ken Ofori-Atta, is expected to present the Mid-year budget review to Parliament on July 25, 2023. COPEC says its sources have revealed…
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Leasing TOR to Torentco bad deal – COPEC cautions
Stakeholders within the oil and energy sector are raising red flags over the government’s proposal to lease the Tema Oil Refinery (TOR) to Torentco Asset Management (TAM). The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah is questioning the capacity of the new entity to take over a huge company such as…
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Fuel prices to rise marginally in next pricing window – COPEC
Petroleum prices in Ghana are set to experience a slight increase in the upcoming pricing window of June, except for Liquefied Petroleum Gas (LPG), according to the Chamber of Petroleum Consumers (COPEC). This increase has been attributed to the depreciation of the cedi against major currencies. The Executive Secretary of COPEC, Duncan Amoah in an…
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Ghana’s energy sector needs audit to ascertain debt levels – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is calling for a full-scale audit to be launched into Ghana’s power and energy sector to ascertain the country’s current debt level of the sector. This comes at a time when the Public Utility Regulatory Commission (PURC) has increased electricity tariff by 18.3 per cent and has since…
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Fuel pricing: COPEC predicts marginal drop in first window of June 2023
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a marginal decline in the prices of fuel in the first pricing window of June 2023. COPEC attributes this projection to the relative stability of the forex rates although the international market benchmark prices of crude oil haven’t been that favorable. The Chamber is further predicting…
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Fuel prices to decline in second pricing window of May – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a decline in the prices of fuel in the second pricing window of May 2023. COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates. Petrol is expected…
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PIAC report: Slowdown in oil production in Ghana worrying – COPEC
Ghana’s petroleum industry generated a record revenue of US$1.43 billion in 2022, according to a report by the Public Interest and Accountability Committee (PIAC). This is the highest revenue generated since the inception of oil production in the country, despite a dip in the number of oil barrels drilled in Ghana’s three oil fields. Reacting…